Joy Friends Pty. Ltd., Rnv Lp and Joy Stone Lp acquired 9.33% stake in Kornic Glory Co.,Ltd. from Myungje Cho for approximately KRW 12.5 billion.
July 06, 2020
Share
Joy Friends Pty. Ltd., Rnv Lp and Joy Stone Lp acquired 9.33% stake in Kornic Glory Co.,Ltd. (KOSDAQ:A094860) from Myungje Cho for approximately KRW 12.5 billion on June 30, 2020. The consideration of KRW20 billion will be paid on June 30, 2020, KRW10 billion one day before transaction closing and balance KRW500million on August 28, 2020. As part of the acquisition, Joy Friends Pty. Ltd. will acquire 4.76% stake in Kornic Glory Co.,Ltd. for KRW 6.4 billion, Rnv Lp will acquire 2.8% stake in Kornic Glory Co.,Ltd. for KRW 3.7 billion and Joy Stone Lp will acquire 1.77% stake in Kornic Glory Co.,Ltd. for KRW 2.4 billion. The transaction payment has been completed, but the transferee is a non-resident, and the schedule has been changed due to the delay in opening a stock account. The shares will be transferred on August 28, 2020.
Joy Friends Pty. Ltd., Rnv Lp and Joy Stone Lp completed the acquisition of 9.33% stake in Kornic Glory Co.,Ltd. (KOSDAQ:A094860) from Myungje Cho on June 30, 2020.
Neorigin Co Ltd, formerly KornicGlory Co Ltd, is a Korea-based company principally engaged in the provision of security solutions. The Company operates its business through two segments. The Security Business segment provides security solutions such as wired security solutions, wireless security solutions, and other security solutions. The Cosmetics Business segment provides skin moisturizing and basic makeup products such as Ato Derma and restore firming cream.
NEORIGIN CO., LTD. 
